Construction Accounting & Taxation published an article by Assurance Partner Robert Mercado and Director James Miller, about the new revenue recognition standards for engineering and construction entities.
Construction Accounting & Taxation
By Robert Mercado, Partner, Assurance Services
Topic 606 will have a significant impact on the way E&C entities recognize revenue from contracts. E&C entities need to determine the effect this will have on the way information is analyzed and reported and formulate an action plan to be ready in advance.